Janney Montgomery Scott Begins Coverage on Trustmark (NASDAQ:TRMK)

Research analysts at Janney Montgomery Scott initiated coverage on shares of Trustmark (NASDAQ:TRMK) in a report issued on Friday, MarketBeat.com reports. The brokerage set a “buy” rating and a $42.00 price target on the financial services provider’s stock. Janney Montgomery Scott’s price objective would suggest a potential upside of 17.68% from the stock’s previous close.

Several other research firms have also issued reports on TRMK. StockNews.com raised shares of Trustmark from a “sell” rating to a “hold” rating in a research note on Thursday, October 24th. Truist Financial increased their price target on Trustmark from $35.00 to $36.00 and gave the stock a “hold” rating in a research report on Friday, October 25th. DA Davidson boosted their price objective on Trustmark from $35.00 to $38.00 and gave the company a “neutral” rating in a research report on Thursday, October 24th. Finally, Hovde Group increased their target price on Trustmark from $34.00 to $37.00 and gave the company a “market perform” rating in a research report on Tuesday, October 29th. Five research analysts have rated the stock with a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.33.

Trustmark Trading Up 1.9 %

NASDAQ TRMK opened at $35.69 on Friday. The company has a fifty day moving average of $36.59 and a 200 day moving average of $34.46. The company has a market capitalization of $2.18 billion, a PE ratio of 10.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.09, a current ratio of 0.87 and a quick ratio of 0.86. Trustmark has a 1 year low of $25.24 and a 1 year high of $40.73.

Insider Buying and Selling at Trustmark

In other Trustmark news, Director Marcelo L. Eduardo sold 790 shares of the business’s stock in a transaction dated Wednesday, October 30th. The shares were sold at an average price of $35.89, for a total transaction of $28,353.10. Following the sale, the director now directly owns 7,334 shares in the company, valued at $263,217.26. This represents a 9.72 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Gerard R. Host sold 26,416 shares of the firm’s stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $39.73, for a total transaction of $1,049,507.68. Following the completion of the transaction, the director now directly owns 26,792 shares of the company’s stock, valued at approximately $1,064,446.16. The trade was a 49.65 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 34,206 shares of company stock valued at $1,347,991 over the last 90 days. 1.50% of the stock is owned by insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. GoalVest Advisory LLC acquired a new stake in Trustmark in the third quarter valued at $63,000. nVerses Capital LLC purchased a new position in shares of Trustmark in the 3rd quarter valued at about $67,000. KBC Group NV raised its position in shares of Trustmark by 43.0% during the 4th quarter. KBC Group NV now owns 3,163 shares of the financial services provider’s stock worth $112,000 after acquiring an additional 951 shares in the last quarter. Point72 Asia Singapore Pte. Ltd. purchased a new stake in Trustmark during the third quarter worth approximately $130,000. Finally, Blue Trust Inc. boosted its holdings in Trustmark by 225.2% in the third quarter. Blue Trust Inc. now owns 4,953 shares of the financial services provider’s stock valued at $149,000 after purchasing an additional 3,430 shares in the last quarter. 67.64% of the stock is owned by institutional investors and hedge funds.

Trustmark Company Profile

Trustmark Corporation operates as the bank holding company for Trustmark National Bank that provides banking and other financial solutions to individuals and corporate institutions in the United States. The company operates through three segments: General Banking, Wealth Management, and Insurance. It offers checking, savings, and money market accounts; certificates of deposits and individual retirement accounts; financing for commercial and industrial projects, income-producing commercial real estate, owner-occupied real estate, and construction and land development; and installment and real estate loans, and lines of credit, as well as treasury management services.